Term
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Definition
| legal agreement to sell a parent company's product or services in a designated geographic area |
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Term
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Definition
| business owned and operated by one person |
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Term
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Definition
| owners financial liability is not limited to investments in the business |
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Term
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Definition
| legal agreement between two or more people to be jointly responsible for the success or failure of a business |
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Term
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Definition
| each partner shares in the profit and losses |
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Term
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Definition
| each partner is liable for any debts only up to the amount of his or her investments in the company |
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Term
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Definition
| personal assets of the owners cannot be taken if a company does not meet its financial obligations |
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Term
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Definition
| legal entity created by either a state or a federal statute |
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Term
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Definition
| the owners of a corporation and have limited liabilty |
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Term
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Definition
| one that is incorporated under the laws of a state that differs from the one in which it does business |
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Term
| limited liability company |
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Definition
| relatively new form of business organization that is hybrid of a partnership and a corporation |
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Term
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Definition
| registration by which the county government officially recognize that a new proprietorship |
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Term
| articles of incorporation |
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Definition
| identify the name and address of a new corporation |
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